Family Lawyers Mackay
74 Victoria St Mackay QLD 4740
Mon-Fri: 8.30am to 5pm

DIVORCE PROPERTY SETTLEMENT

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DIVORCE PROPERTY SETTLEMENT

After separation couples need to sort out how to divide their asset pool. This is called a ‘divorce property settlement’. At Family Lawyers Mackay our Brisbane Divorce Lawyers are aware that our clients are concerned about controlling legal fees, particularly where they may not have a great deal in liquid assets.

The only requirement for a divorce property settlement is ‘irretrievable breakdown’ of the marriage. This is proved by a 12-month separation with no likelihood of reconciliation. The court does not examine whose fault it was that the marriage broke down. The divorce application will not resolve issues relating to children or property. You need to make those arrangements with a separate application. The divorce application must show you have made arrangements for the welfare of any dependent children.

After separation couples need to sort out how to divide their asset pool. This is called a ‘property settlement’.

The asset pool comprises all property such as houses, cars, shares, superannuation, liabilities (mortgage, credit cards) and financial resources (family trusts). The property, liabilities and financial resources of the relationship can be in joint names, your name only or your spouse’s name only.

ALWAYS KNOW YOUR RIGHTS AND KNOW WHERE YOU STAND

By consulting one of our accredited family law mackay specialists.

After assessing the contributions made by each party, the Court is required to consider the factors under section 75(2) of the Family Law Act (otherwise known as “future factors”). Some of the “future factors” include

  • The age and state of health of each party
  • The physical and mental capacity of each party to obtain employment
  • Whether either party has the care of a child under the age of 18 years
  • Any child support that has been paid by a party
  • Any child support that a party may be liable to pay
  • The necessary commitments of each party that enable that party to support themselves, a child or another person that the party has a duty to maintain.

Divorce LawyersThe asset pool comprises all property such as houses, cars, boats, motorcycles, shares, superannuation, liabilities (mortgage, credit cards) and financial resources (family trusts). The property, liabilities and financial resources of the relationship can be in joint names, your name only or your partner’s name only.

If you and your partner come to an agreement on how you intend to divide your asset pool then you can enter into Consent Orders or a Financial Agreement to make the agreement legally binding.

If you would like to read the relevant sections of the legislation in regard to Divorce Property Settlement please go to the Family Law Act.

Please reference Sections 48 – 59 inclusively.

Visit our other page to view details on Australia’s Divorce Rates.

If you are unable to negotiate a divorce and property settlement of your assets then mediation and collaborative practice may provide assistance to you to negotiate this settlement.

If however by negotiation you are unable to resolve the division of your assets then it may be necessary to apply to the Family Court to obtain a judgment on the division of such assets.

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ALWAYS KNOW YOUR RIGHTS AND KNOW WHERE YOU STAND BY CONSULTING ONE OF OUR ACCREDITED FAMILY LAW MACKAY SPECIALISTS.

ALWAYS KNOW YOUR RIGHTS AND KNOW WHERE YOU STAND

By consulting one of our accredited family law mackay specialists.

To make an appointment please contact our Brisbane Divorce Lawyers or call us on (07) 4847 0198 today.

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Recent Client Feedback

We consider ourselves lucky to work with our local community to help make Mackay a better place for everyone.
Family lawyers Mackay and in particular Elise Foote have represented me for a number of years through my divorce and parenting plan process. Finalising these matters have at times being extremely difficult and trying. However Elise's knowledge in family law, support and empathy was unwavering. Her professionalism and compassion allowed me to remain focused on the importance of my goals and what is best for my children and our future. I can't thank Elise and Family Lawyers Mackay enough for...
Tanya Szepanowski
Tanya S.
WHEN LIFE HAPPENS a Great thanks to the team at Family Lawyers Mackay for assisting me when Life came to a sudden stop. They have not sugar coat the the process. "There is no such thing as a winner in a Family separation" , but brought it into perspective for me. Together we had a fair outcome, and fair is the cornerstone to rebuild one's life! One can not ask for more than that.
Tanya Szepanowski
Ellen G.
I have found everyone I have encountered at Family Lawyers Mackay very helpful. Ian Field whom I dealt with provided me with a comprehensive summary of the issues, including some I had not even considered before. And then, rather than embark on a long, hostile and expensive litigation, he brokered a negotiated resolution acceptable to both parties. The final result was very much more than what I had hoped for and the costs were significantly reduced based on his negotiations
Tanya Szepanowski
Eve D.
Family lawyers Mackay and in particular Elise Foote have represented me for a number of years through my divorce and parenting plan process. Finalising these matters have at times being extremely difficult and trying. However Elise's knowledge in family law, support and empathy was unwavering. Her professionalism and compassion allowed me to remain focused on the importance of my goals and what is best for my children and our future. I can't thank Elise and Family Lawyers Mackay enough for...
Tanya Szepanowski
Tanya S.
WHEN LIFE HAPPENS a Great thanks to the team at Family Lawyers Mackay for assisting me when Life came to a sudden stop. They have not sugar coat the the process. "There is no such thing as a winner in a Family separation" , but brought it into perspective for me. Together we had a fair outcome, and fair is the cornerstone to rebuild one's life! One can not ask for more than that.
Tanya Szepanowski
Ellen G.
I have found everyone I have encountered at Family Lawyers Mackay very helpful. Ian Field whom I dealt with provided me with a comprehensive summary of the issues, including some I had not even considered before. And then, rather than embark on a long, hostile and expensive litigation, he brokered a negotiated resolution acceptable to both parties. The final result was very much more than what I had hoped for and the costs were significantly reduced based on his negotiations
Tanya Szepanowski
Eve D.

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